Nightmare for Sleep Depot staff as administrator orders blanket closure of all outlets

Nearly 400 staff at The Sleep Depot, will have to look for new jobs after the administrator decided to close down the beds retailer.

The company went into administration after failing to secure a new financing package.

A statement from the Sleep Depot said: “During the past few months management have made strenuous efforts to arrange a financial restructuring of the company. Unfortunately, these efforts were not successful and as a result they were left with no option but to place the company into administration.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today and OHW+ - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Phone

This field is for validation purposes and should be left unchanged.

Δ

James Gleave, representing the administrator Kroll, said: “The trading environment for all retailers is particularly tough at present and following a thorough evaluation of the company, we have regrettably concluded that it is impossible for The Sleep Depot to continue to trade.”

All 367 staff at the firm’s head office in Blackburn, Lancashire, and 100 in-store concessions across the UK have lost their jobs with immediate effect.